Mumbai-based self-driving car rental startup Drivezy has just received funding of Rs. 65 crore ($10million) as part-equity and part debt. The company used to be known as JustRide earlier. Of this, $5 miilion has been made by Axan Partners, Das Capital and IT Farm, which have their origins in the …
Tag: NBFCs
Lending firm Five Star Business Finance bags $50 m from Sequoia Capital & others
New Delhi: Sequoia Capital India and US-based Norwest Venture Partners have led a $50 million (Rs333 crore) equity investment in Chennai-based lending firm Five Star Business Finance, the non-banking financial company said on August 9. The round accorded a post-money valuation of Rs 1,300 crore t…
GST risky for SME lenders due to near-term uncertainty: Ambit Capital
The implementation of goods and services tax (GST) and continued impact of demonetisation in some segments are likely to be high asset quality risks for small and medium enterprise (SME) lenders, said Ambit Capital Pvt. Ltd. According to the brokerage firm, many micro, small and medium enterprise…
‘India’s SMEs need to be empowered with access to funds, not mere provisions of accounts & subsidies’
If India is to sustain its onward march of 7 percent-8 percent of annual economic growth, the 50-million strong Small and Medium Enterprises (SME) sector has a vital role to play. However, in their quest for growth, SMEs find working capital and timely access to it as serious concerns. A survey t…
#3YearsOfModiSarkar: How government policy is transforming India’s credit & MSME landscape
No economist would disagree with the statement that credit is a key fuel for economic growth, without which, normal economic activity would be virtually impossible. What is equally indisputable is that the Indian economy in general and Indian small businesses (MSMEs) in particular, have been cred…
Small businesses suffer as India’s bruised banks sit on deposits
Businessman Vineet Pandey has 500 housekeepers, security guards, electricians and plumbers on his books, servicing offices in India’s booming financial metropolis Mumbai. He would love to hire more to keep up with demand, but cannot get a bank loan. Pandey, 36, recently had to turn away an …
NBFCs cash in on Indian banks bad loan pain
New Delhi: Indian banks struggles with bad loans over the past three years have opened an opportunity to ramp up lending for so-called non-banking financial companies (NBFCs), which are not as strictly regulated as banks. With their share of total credit rising, new players and new investors have…
Improving the state of MSMEs
Late last month, the National Board of Micro, Small, and Medium Enterprises, organised by the Ministry of Micro, Small, and Medium Enterprises (MSME) including Khadi/Coir with all States and Union Territories’ Ministers and Secretaries met in the Capital. With a welter of as many as fifteen items…
‘Challenges & Opportunities in Indian SMBs’
When Vignesh Rajamanickam returned from recession hit UK, he brought back a home utility product for his mother. It wasn’t until the “clothes drying stand” received the adoration that it did in the small town of Coimbatore, did Rajamanickam realise that there was a market for this in India. Seven…
Kalraj Mishra lists a slew of firsts, maximums & upcomings at 15th National MSME Board Meeting
Union MSME Minister Kalraj Mishra addressed the 15th National Board Meeting of MSME at Vigyan Bhawan in New Delhi on April 27, and detailed the achievements of MSME Ministry in 2016-17, while also painting the possibilities in near future. “I recall the previous meeting of National Board when Aru…